Shares of Five9 (FIVN -13.41%) fell 13.4% on Thursday after the cloud contact center platform provider's weak forward guidance overshadowed otherwise-strong fourth-quarter 2023 results.Five9 ended 2023 on a strong noteFive9's fourth-quarter 2023 revenue grew 15% year over year to $239.1 million, translating to adjusted (non-GAAP) net income of $45.1 million, or $0.61 per share. Analysts, on average, were only expecting earnings of $0.49 per share on revenue of $238 million.Five9 Chairman and CEO Mike Burkla ...

Five9, Inc. (NASDAQ:FIVN) Q4 2023 Earnings Conference Call February 21, 2024 4:30 PM ET Company Participants Mike Burkland - Chairman and CEO Dan Burkland - President and Chief Revenue Officer Barry Zwarenstein - CFO Conference Call Participants Scott Berg - Needham Ryan MacWilliams - Barclays DJ Hynes - Canaccord Meta Marshall - Morgan Stanley Jim Fish - Piper Sandler Taylor McGinnis - UBS Peter Levine - Evercore ISI Michael Turrin - Wells Fargo Siti Panigrahi - Mizuho Matthew Niknam - Deloitte Bank Mike L ...

Five9 (FIVN) came out with quarterly earnings of $0.61 per share, beating the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $0.54 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 27.08%. A quarter ago, it was expected that this provider of cloud-based software to call centers would post earnings of $0.43 per share when it actually produced earnings of $0.52, delivering a surprise of 20.93%.Over the l ...

The Company uses an expected credit loss model, which requires it to consider historical loss rates and expectations of forwardlooking losses to estimate its provision for credit losses on its trade accounts receivables, unbilled accounts receivables and contract assets. Property and Equipment, Net The Company capitalizes certain qualifying costs incurred during the development stage of internal-use software. Costs related to preliminary project activities and post-implementation activities are expensed in ...

Revenue - Revenue for Q4 2023 is expected to be in the range of $239.0 to $240.0 million[6] - Revenue for the fourth quarter of 2023 increased 15% to a record $239.1 million, compared to $208.3 million for the fourth quarter of 2022[31] - Total revenue for 2023 increased 17% to a record $910.5 million, compared to $778.8 million in 2022[33] - Revenue for the business outlook is projected to be in the range of $1.053 to $1.057 billion[74] - Revenue for the twelve months ended December 31, 2023, was $910.488 million, compared to $778.846 million in 2022[78] Non-GAAP Net Income - Non-GAAP net income for Q4 2023 was $45.1 million, or 18.9% of revenue and $0.61 per diluted share, compared to $39.0 million, or 18.7% of revenue and $0.54 per diluted share in Q4 2022[5] - Non-GAAP net income for 2023 was $149.9 million, or 16.5% of revenue and $2.05 per diluted share, compared to $106.7 million, or 13.7% of revenue and $1.50 per diluted share in 2022[21] - Non-GAAP net income per share for full year 2024 is expected to be in the range of $2.14 to $2.18, assuming diluted shares outstanding of approximately 75.9 million[17] - Non-GAAP net income per share is expected to be in the range of $0.37 to $0.39, with diluted shares outstanding of approximately 74.7 million[71] GAAP Net Loss - GAAP net loss for Q4 2023 was $(12.4) million, or (5.2)% of revenue and $(0.17) per basic share, compared to $(13.7) million, or (6.6)% of revenue and $(0.19) per basic share in Q4 2022[15] - GAAP net loss for 2023 was $(81.8) million, or (9.0)% of revenue and $(1.13) per basic share, compared to GAAP net loss of $(94.7) million, or (12.2)% of revenue and $(1.35) per basic share, in 2022[27] - GAAP net loss per share in the range of $(0.34) to $(0.28), assuming basic shares outstanding of approximately 73.6 million[28] - GAAP net loss per share in the range of $(0.61) to $(0.53), assuming basic shares outstanding of approximately 74.6 million[36] - Net loss for the year ended December 31, 2023 was $81.764 million, compared to $94.650 million in the previous year[63] - Net loss for the twelve months ended December 31, 2023, was $81.764 million, compared to $94.650 million in 2022[78] Adjusted EBITDA - Adjusted EBITDA for Q4 2023 was $48.3 million, or 20.2% of revenue, compared to $46.2 million, or 22.2% of revenue in Q4 2022[19] - Adjusted EBITDA for 2023 was $166.3 million, or 18.3% of revenue, compared to $140.4 million, or 18.0% of revenue in 2022[23] - Adjusted EBITDA for 2023 was $166.3 million, or 18.3% of revenue, compared to $140.4 million, or 18.0% of revenue, in 2022[76] GAAP Gross Margin - GAAP gross margin was 52.9% for Q4 2023, compared to 53.8% for Q4 2022[18] - GAAP gross margin was 52.5% for 2023, compared to 52.8% in 2022[33] Adjusted Gross Margin - Adjusted gross margin was 61.3% for the fourth quarter of 2023, compared to 62.3% for the fourth quarter of 2022[32] - Adjusted gross margin was 61.0% for 2023, compared to 61.3% in 2022[34] Operating Cash Flow - GAAP operating cash flow for 2023 was $128.8 million, compared to $88.9 million in 2022[9] - GAAP operating cash flow for Q4 2023 was $36.5 million, compared to $32.7 million in Q4 2022[70] - Net cash provided by operating activities increased to $128.838 million from $88.865 million year-over-year[63] Stock-Based Compensation - Stock-based compensation for Q4 2023 was $49.6 million, compared to $43.8 million in Q4 2022[3] - Stock-based compensation expenses increased to $206.292 million from $172.507 million year-over-year[63] Expenses - Research and development expenses increased to $50.4 million in 2023, compared to $44.4 million in 2022[25] - Sales and marketing expenses increased to $66.2 million in 2023, compared to $59.3 million in 2022[25] - Research and development expenses for the twelve months ended December 31, 2023, were $156.582 million, compared to $141.794 million in 2022[78] - Sales and marketing expenses for the twelve months ended December 31, 2023, were $296.713 million, compared to $261.990 million in 2022[78] - General and administrative expenses for the twelve months ended December 31, 2023, were $123.079 million, compared to $95.143 million in 2022[78] Assets and Investments - Total assets increased to $1.494568 billion from $1.244485 billion year-over-year[62] - Goodwill increased to $227.412 million from $165.420 million year-over-year[62] - Total current assets increased to $924.054 million from $778.710 million year-over-year[62] - Deferred contract acquisition costs increased to $136.571 million from $114.880 million year-over-year[62] - Purchases of marketable investments increased to $795.002 million from $435.768 million year-over-year[63] Cash and Cash Equivalents - Cash and cash equivalents decreased to $144.842 million from $180.987 million year-over-year[63] Exit Costs - Exit costs related to the closure and relocation of Russian operations were $2.8 million for the year ended December 31, 2023[64] Gross Profit - Gross profit for the twelve months ended December 31, 2023, was $477.798 million, compared to $411.345 million in 2022[78]

SAN RAMON, Calif.--(BUSINESS WIRE)--Five9 Inc. (NASDAQ: FIVN), provider of the Intelligent CX Platform, has been named a leader in the second annual Aragon Research Globe™ for Conversational AI in the Intelligent Contact Center (ICC) 2024. The Globe identified Five9 for its strengths, notably its growing range of offerings like Intelligent Virtual Agent (IVA), Agent Assist, and AI Insights. AI offerings provide better customer experiences, with improved self-service capabilities, as well as better agent exp ...

--(BUSINESS WIRE)--Five9, provider of the Intelligent CX Platform, invites you to come see us at CCW Berlin to learn more about solutions that help provide a better CX in customer interactions, see live product demos, and speak with our experts. The theme of this year’s event, which is the 25th CCW in Berlin, is “Unite Human and Artificial Power”. Join us from 27th February until 29th February at the Estrel Berlin. Get your free exhibition pass and set your appointment today. Five9 will exhibit in hall ...

Five9, Inc. (NASDAQ:FIVN) Q3 2023 Earnings Conference Call November 2, 2023 4:30 PM ET Company Participants Mike Burkland - Chairman & Chief Executive Officer Dan Burkland - President & Chief Revenue Officer Barry Zwarenstein - Chief Financial Officer Conference Call Participants Ryan MacWilliams - Barclays Terry Tillman - Truist DJ Hynes - Canaccord Seth Gilbert - UBS Jim Fish - Piper Sandler Scott Berg - Needham Arjun Bhatia - William Blair Meta Marshall - Morgan Stanley Peter Levine - Evercore Siti Panig ...

Adj. Gross Margin Non-GAAP Opex (% of revenue) Adj. EBITDA Margin 9.1% expansion 36.6% improvement 45.7% expansion © 2021 Five9, Inc. All rights reserved. Proprietary and confidential to Five9, Inc. 7 Executing on Enterprise Opportunity (cont'd) © 2021 Five9, Inc. All rights reserved. Proprietary and confidential to Five9, Inc. Q3'23 Highlights (cont'd) 4 Channel and International Momentum ◦ Expanded partnership with IBM to resell Five9 with their CRM and ITSM offers and integrate Watson X with our AI solut ...

Table of Contents ITEM 1A. Risk Factors and business risks. 41 The use of AI by our workforce may present risks to our business. ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds ITEM 3. Defaults Upon Senior Securities ITEM 4. Mine Safety Disclosures ITEM 5. Other Information Aggregate # of ______________________ (1) Rule 10b5-1 trading arrangement provides for sales of securities in order to satisfy tax obligations upon vesting of restricted stock units held by Ms. Mansharamani. (2) The R ...